Home Insurance Renewals

[EGuitarStar]

Just renewed my home insurance policy using Go Compare and managed to renew it with Policy Expert for £100 less than what my current provider Privilege quoted me.

I spoke to Privilege and let them know that even on a comparison site I found it less than their renewal offer, the agent didn't seem too interested so I said let it lapse and not renew.

Ended up paying just under £218 with contents insurance which is more than £50 less than last year.

Compare the Market were about £20 more expensive for the same provider and cover, which I found strange and going direct to Policy Expert was even more expensive, bizarre how they provide quotations.

 

[Jim99]

AFAIK they have to offer people the best price, but that price doesn't have to be the same across all channels.

So they could show a different price for someone renewing directly on the web, vs ringing them up, vs coming via a comparison site.

It does seem like there are more loopholes than I'd originally expected, but at least it's better than the old "hey it's doubled in price but since I'm so nice I can cut down by 40% for you as a special treat"

 

[dunno]

I also renewed my home insurance but the cheapest quote I got was going straight to Direct Line (who are not on price comparison websites). Saved myself £65 compared to the renewal quote i got from the people (also Policy Expert) I was with previously (who were also quoting cheaper than price comparrison sites). Might have just got the timing right.

 

[dlockers]

Bit of a bump - but has anyone seen "personal items away from home" go nuts? My Hastings quote went from £417 to £760 by adding £6k of personal item cover. I'm pretty I have it all-in on Admiral?

 

[RedMogg]

Bit of a bump - but has anyone seen "personal items away from home" go nuts? My Hastings quote went from £417 to £760 by adding £6k of personal item cover. I'm pretty I have it all-in on Admiral?

Yep: M&S policy (underwritten by Aviva).
Personal Possessions cover £100k total limit (individual items £5k), with specified items (replacement value):
Her Majesty's Engagement & Eternity Rings
My Watches (Brother & I inherited a few from our grandfather)

...And the bit that really hikes the premium up: my £22k wheelchair (custom carbon fibre & titanium frame, with a set of very expensive Spinergy CLX Pro wheels & E-motion hubs) - I did have this insured separately, but the renewal quotes got ridiculous (£1200 Annual Global Cover, £750 excess), so it worked out better value to just add it as a specified item on our contents policy.

Expecting a nasty shock when we renew in November.

 

[dlockers]

Best of luck @RedMogg ... I went Aviva in the end at £428. My watches are named items and my bike is on there up to £750. Something nuts in the ether!

That did include legal and home emergency tho.

 

[Maundie]

Bit of a bump - but has anyone seen "personal items away from home" go nuts? My Hastings quote went from £417 to £760 by adding £6k of personal item cover. I'm pretty I have it all-in on Admiral?

When I renewed in June (I think it was) it only raised my premium by about £12 for the year for mine and the missus 3 watches (2 x£1,600 and 1x£2,600) for away from home cover, thought that was a good price as watches are most likely to be lost outside the house

 

[Coran]

Increasing your excess can massively reduce premiums. Consider what cost you would put a claim on the insurance for. Aviva, for example, let you increase your excess to £1,000 so you’re clearly only going to claim for major issues. This can halve your premium (compared to bottom end excesses where it would be worth claiming on everything).

 

[RedMogg]

Increasing your excess can massively reduce premiums. Consider what cost you would put a claim on the insurance for. Aviva, for example, let you increase your excess to £1,000 so you’re clearly only going to claim for major issues. This can halve your premium (compared to bottom end excesses where it would be worth claiming on everything).

I disagree - upping your excess so high means when you do need to claim, the cost to do so wipes out the minimal "saving" on the premium.

Eg:
Premium £500/yr with £100 excess
Premium £250/yr with £1000 excess...

I'd rather pay more for cover that isn't so prohibitively expensive to make a claim - particularly when I factor in the extra risks of having kids, cats and dogs...

...as proven by our recent claim due to our cat jumping on the shelf above my brand new study TV, which held the consoles & CCTV gear. Each item on it's own wasn't worth a huge amount, but combined with the damage done to the wall & flooring, made the claim over £3500.

I'm glad I didn't have to pay a third of that, and if the premium is hiked hugely at November's renewal, I'll just shop about for cheaper cover.

 

[Coran]

I disagree - upping your excess so high means when you do need to claim, the cost to do so wipes out the minimal "saving" on the premium.

Eg:
Premium £500/yr with £100 excess
Premium £250/yr with £1000 excess...

I'd rather pay more for cover that isn't so prohibitively expensive to make a claim - particularly when I factor in the extra risks of having kids, cats and dogs...

...as proven by our recent claim due to our cat jumping on the shelf above my brand new study TV, which held the consoles & CCTV gear. Each item on it's own wasn't worth a huge amount, but combined with the damage done to the wall & flooring, made the claim over £3500.

I'm glad I didn't have to pay a third of that, and if the premium is hiked hugely at November's renewal, I'll just shop about for cheaper cover.

That is pretty unfortunate! You’ll have to let us know the impact on your renewal premium.

I’ve gone 10 years without a need to claim to date so the few hundred saving a year has so far been worthwhile!

 

[BDEE]

I disagree - upping your excess so high means when you do need to claim, the cost to do so wipes out the minimal "saving" on the premium.

Eg:
Premium £500/yr with £100 excess
Premium £250/yr with £1000 excess...

I'd rather pay more for cover that isn't so prohibitively expensive to make a claim - particularly when I factor in the extra risks of having kids, cats and dogs...

...as proven by our recent claim due to our cat jumping on the shelf above my brand new study TV, which held the consoles & CCTV gear. Each item on it's own wasn't worth a huge amount, but combined with the damage done to the wall & flooring, made the claim over £3500.

I'm glad I didn't have to pay a third of that, and if the premium is hiked hugely at November's renewal, I'll just shop about for cheaper cover.

Which insurance company are you with that paid a claim for damage caused by a cat?

Every policy I have ever seen excludes damage caused by pets.

 

[RedMogg]

Which insurance company are you with that paid a claim for damage caused by a cat?

Every policy I have ever seen excludes damage caused by pets.

M&S Premier, with accidental damage cover.
We pay a fair whack due to postcode and some high value specified items, but they were excellent when we put the claim in - about 5 days from sending photos of damage, serial numbers & proofs of purchase for each item.

The damage to the flooring & wall took a little longer as they wanted three quotes, but we asked if we could just pay the chap who'd not long previously installed the flooring - sent photos of the repairs and they transferred the money the same day.

 

[jpaul]

Have never payed for accidental home damage - I'll shoulder the risk, but with Aviva was circa £100, plus £30 for bikes away from home
next year (following comments in nationwide flex account insurance thread) will add in un-named posessions away from home for laptop/phone/cameras/glasses, combined premium, I thought was only similar price to bikes.

 

[RedMogg]

Have never payed for accidental home damage - I'll shoulder the risk, but with Aviva was circa £100, plus £30 for bikes away from home
next year (following comments in nationwide flex account insurance thread) will add in un-named posessions away from home for laptop/phone/cameras/glasses, combined premium, I thought was only similar price to bikes.

Just watch those single article limits - unless you're paying for higher cover, bikes typically have a limit of £500.

 

[BDEE]

M&S Premier, with accidental damage cover.
We pay a fair whack due to postcode and some high value specified items, but they were excellent when we put the claim in - about 5 days from sending photos of damage, serial numbers & proofs of purchase for each item.

The damage to the flooring & wall took a little longer as they wanted three quotes, but we asked if we could just pay the chap who'd not long previously installed the flooring - sent photos of the repairs and they transferred the money the same day.

I will have a look, thanks. Renewal in a couple of weeks so might be a good option.

 

[dholdi]

I'm about to move ours to Admiral, we have the cars on a multicar with them.
We have gone from LV's gold level to Platinum level but with Admiral for 2/3 of the cost.

 

[mattpj]

First quote. About 250 more expensive than last year.

Second quote after a bit of pleading. 25 more than last year.

Couldn’t find any better with the level that I want.

 

[dlockers]

I'm about to move ours to Admiral, we have the cars on a multicar with them.
We have gone from LV's gold level to Platinum level but with Admiral for 2/3 of the cost.

Had 4 years with them so I was disappointed they couldn't do owt for me this year.